U MUST PASS THIS TEST BEFORE YOU START ANY FORM OF INVESTING!!!!

What is the test that u must pass to be able to invest? It is actually the poker test. It means that you must be able to win in texas hold them poker over a long term period before you can start any form of investing. To be frank, I have only came across this 'VICE' a month ago . Why?? What is the link between these 2 form of skills? I will try to explain it for the rest of this post.

Firstly, in both type of skills, you must not grieve on lost opportunites, but rather grieve on the ones that you have actually committed mistakes that can be prevented. For eg. the dot com bubble, trying to form a str8 on the last card to be revealed when the probability is only a mere 4/52.

For this paragraph, I shall emphasise on the straight in the poker. Straight in poker is like an investment bubble. It often offers a huge carrot for the person who places a bet. However, one would often find himself disappointed as there is often no carrot. This can be actually prevented when you weigh in the odds and probabilities. Yes, you can try your luck but take note of the amount that you must commit during the showdown. If the pot is big and what you need to commit is small, you can certainly go for it. This is similar to investing where you can actually set aside a small amount of money to spectulate and for arbitrage.

Secondly, in poker people will often raise their bets to confuse you, however it is often your own analysis and judgement that matters. This is a really important point as most people will have a view on how your money should be used.

Thirdly, I often prefer colour than str8 in poker as the odds are higher if you got the right cards and it is a certainly better hand than a normal straight.

While you invest for the long term, take your mind away from the ticker symbols and the market price. Find a hobby instead, which is playing poker, fixing jigsaw for me.(trying to play bridge because my idol-buffett is a fan of the card game). These hobbies can actually train your patience.